Private home prices down slightly in February: NUS Index

SINGAPORE: Private home prices in Singapore saw a small decline last month, after the government introduced stringent measures in January to cool speculation. The NUS Private Residential Price Index, which measures prices of non-landed private homes, fell 0.4 per cent compared with that of January. Prices of properties outside of the central area softened 1.5 per cent from previous month. But the index for central area homes saw an increase of one per cent. In January, the government mandated higher stamp duties for sellers and asked banks to curb credit to those who already have outstanding mortgages. Analysts said the latest data from the National University of Singapore's Institute of Real Estate Studies show that the cooling measures are beginning to have an impact. Credo Real Estate Residential Services head Liang Thow Ming said: "I don't think it is extremely meaning...